Manitoba Crop Alliance (MCA) is now accepting applications for 2024 Advance Payments Program (APP) cash advances, with funds to be issued starting April 2, 2024.
The APP is a federal loan program administered by MCA. It offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances. Under the program, eligible farmers are eligible to receive up to $1,000,000, with the Government of Canada paying the interest on the first $100,000 of the advance for the 2024 program year.
Funds for the 2024 spring cash advance program will start being issued on April 2, 2024. For the 2024 program year, MCA’s interest rate on interest-bearing cash advances is prime – 0.50 per cent. This interest-bearing rate is the most competitive in Manitoba among other APP administrators, major banks and credit unions.
“The APP is a great tool that allows farmers to market their agricultural products when they want to and when it will provide the most benefit to their operation,” says MCA CEO Pam de Rocquigny. “After more than 40 years as an APP administrator, we’re proud to continue offering this valuable program to farmers across Manitoba.”
To apply for an advance under the 2024 program year, farmers can visit APP Cash Advance – Manitoba Crop Alliance (mbcropalliance.ca) or phone the MCA office at 1-204-745-6661 or toll-free 1-877-598-5685 to request an application form.
MCA also continues to process applications for the 2023 program year on over 35 crop kinds and honey until March 15.
“Client satisfaction is our top priority with this program,” says de Rocquigny. “If our clients aren’t happy with their MCA cash advance experience, we haven’t done our job.”
If farmers would like to be notified regarding APP-specific information, please email hello@mbcropalliance.ca to be added to the subscriber list. More information about the APP can be found at Home – Manitoba Crop Alliance (mbcropalliance.ca)
